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Gold Spot / U.S. Dollar

Gold Hits New High at $2589 - Bearish OrderBlock in Play? (READ)

By ArmanShabanTrading
By analyzing the gold chart on the 4-hour timeframe, we can see that today the price managed to reach a new All Time High, climbing up to $2589.750. Afterward, it faced a correction and is currently trading around the $2580 level. If the 4-hour gold candle closes below $2579, we can consider the $2579 to $2589 range as a Bearish Order Bock. Based on this, we can analyze and predict the next price movements. Continue to wait for price stabilization and avoid taking high-risk trades. (This analysis will be updated)

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Best Regards , Arman Shaban
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